NWE DMT was on the verge of a potential dip in market activity this week, given a recent slowdown in demand from the automotive sector. Buying power from PET was still understood to be firm, however, as the downstream market moved towards a rare late-summer peak. In upstream paraxylene contract news, participants were expecting a significant increase in the September CP following an ACP settlement at $950/mt (Eur741/mt) CFR by Idemitsu Kosan and Nippon Oil—up $60/mt versus August. “[The CP] will go up, it’s pretty clear. Looking at the exchange rate difference, that’s a Eur25/mt increase by itself,” a consumer said.
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